Page 4 - Shipping Corporation Of India

Top headlines: Govt moves to privatise shipping firm; a new unicorn is born

Business Standard bring you top news of the evening

Indian govt invites bids to sell its 63.75% stake in Shipping Corporation

The Indian government invited bids to sell its 63.75% stake in Shipping Corporation of India to a private investor, in a key asset sale that was delayed due to the coronavirus pandemic

Sensex cracks 1,407 pts as Covid-19 fears resurface; Nifty holds 13,300

InterGlobe Aviation and SpiceJet sunk up to 10 per cent on the BSE after India suspended flights from the UK till December 31

Shipping Corp up 7% on report govt may invite EoIs for divestment this week

The government is likely to invite bids this week for the privatisation of the SCI, with buyers getting time till mid-February to submit their EoIs, according to a report

Govt may invite expressions of interest for Shipping Corporation this week

The government is planning to sell its entire 63.75 per cent stake in Shipping Corporation, along with transfer of management control

Panel on divestment approves privatisation of Shipping Corporation

The Core Group of Secretaries on Divestment (CGD), in its meeting on Monday, approved the conditions for privatising the government-owned company that owns a fleet of bulk carriers, crude oil tankers,

Core secretary panel set to take up Shipping Corporation disinvestment

Market capitalisation of the company stood at Rs 3,910 crore as of December 11

Shipping Corporation of India posts net profit of Rs 142 in Sept quarter

The shipping company had reported a net loss of Rs 40.91 crore in the corresponding quarter of previous fiscal, it said in a regulatory filing to the BSE

Shipping Corporation jumps 9% on Rs 317 crore profit in June quarter

The operational revenue of the Mumbai-based company jumped to Rs 1,143.46 crore during the first quarter of FY21 from Rs 918.95 crore a year earlier

Covid-19: Govt unlikely to meet Rs 2.1 trillion divestment target for FY21

With ambitious FY21 target of Rs 2.1 trn unlikely to be met, govt to push through LIC IPO, privatisation of BPCL or Concor

Shipping Corporation Q4 net profit jumps 83%, income surges to Rs 1,392 cr

Total expenses were higher at Rs 1,284.35 crore during the quarter as against Rs 1,031.48 crore a year ago

Covid-19 impact: Tanker rates boom as demand for oil storage surges

Vessel charges jump up to seven times to $160,000-170,000 per day since February

ONGC gets cracking at Panna-Mukta field, saves Rs 1 cr in shipping costs

Sources in the know said the company will lay a small undersea pipeline soon to completely do away with the requirement of hiring ships for transporting oil to land.

Privatisation may affect SCI's decision-making powers, shipping market

In April 2003, the Cabinet Committee on Disinvestment had decided to suspend any divestment in SCI.

Shipping Industry to witness cost rise of $15 bn over IMO regulations

Companies to pass on entire cost increase to customers

Centre likely to pare stake in BEML to 26% via strategic disinvestment

The government has set an all-time high disinvestment target of Rs 1.05 lakh crore, up from Rs 90,000 crore projected in the Interim Budget 2019-20 in February.

RBSA gets second disinvestment deal; named advisor for Shipping Corp

The government has a 63.75 per cent equity stake in the Indian flag carrier, which will be sold along with management control

Divesting it right

The first deal will clear the path for many more. It will also be the toughest to execute

Privatisation to the rescue: But will it work? Here's how it can be made to

The Modi govt is strong enough to override the resistance that has come from some quarters, but it should be mindful of reputation risks in decisions on complex financial questions, writes T N Ninan

BPCL stake sale a test case for Modi govt's second shot at privatisation

Here are some of the issues on the table